Gary Siegel

NEW YORK – “Manufacturing activity in the central Atlantic region pulled back in December from positive territory after expanding during the previous seven months,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “All broad indicators of activity — shipments, new orders and employment — landed in negative territory. Most other indicators also suggested additional softness. Capacity utilization turned negative following seven months of improvement, while backlogs held steady. Vendor delivery times were virtually unchanged, while manufacturers reported slightly quicker growth in inventories.”

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.070% high rate, up from 0.040% the prior week, and the six-months incurred a 0.170% high rate, up from 0.160% the week before.

The Chicago Fed national activity index for November improved dramatically, rising to negative 0.32 from a revised negative 1.02 reading in October, originally reported as negative 1.08, the Federal Reserve Bank of Chicago reported yesterday.

When the Federal Reserve says accommodation will remain in effect for an "extended period," Chicago Federal Reserve Bank president Charles Evans said he translates that into "about three to four [Federal Open Market Committee] meetings," Evans said in an interview yesterday.

NEW YORK – Gradual improvement is expected for the local economy next year, according to the Federal Reserve Bank of Minneapolis’s annual forecast, released today, but not all parts of the economy are expected to show strength, and downside risks linger.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.070% high rate, up from 0.040% the prior week, and the six-months incurred a 0.170% high rate, up from 0.160% the week before.

NEW YORK – When the Federal Reserve says accommodation will remain in effect for an “extended period”, Chicago Federal Reserve Bank President Charles Evans, said he translates that into “about three to four meetings,” he said in an interview today.

NEW YORK - The Treasury Department said it will sell $28 billion of four-week discount bills tomorrow.

NEW YORK - The Chicago Fed National Activity Index for November improved dramatically, rising to negative 0.32 from a revised negative 1.02 reading in October, originally reported as negative 1.08.

The region's manufacturing sector expanded, as the general business conditions index increased to 20.4 in December from 16.7 in November, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of leading economic indicators gained 0.9% in November, its eighth straight gain, the Conference Board reported yesterday.

NEW YORK – The region's manufacturing sector expanded, as the general business conditions index increased to 20.4 in December from 16.7 in November, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.

NEW YORK - The composite index of Leading Economic Indicators gained 0.9% in November, its eighth straight gain, the Conference Board reported today.

The Federal Open Market Committee voted yesterday to keep the target range for the federal funds rate at 0% to 0.25% and also said the funds rate is likely to stay "exceptionally low" for an "extended period."

NEW YORK – The Federal Open Market Committee voted to keep the target range for the federal funds rate at 0 to 1/4 percent and also said the funds rate is likely to stay “exceptionally low” for an “extended period.”

The Federal Reserve yesterday announced the results of its term auction facility, selling $46.035 billion of 28-day credits at a 0.250% stop-out rate, the lowest rate at which the offering amount clears, which is the sole rate awarded to all the successful bids.

Builders' confidence in the market for new single-family homes slipped in December as the National Association of Home Builders' housing market index — a monthly gauge of builder sentiment — fell to 16 from November's 17, the group announced yesterday.

The Empire State Manufacturing Survey showed "conditions for New York manufacturers leveled off in December, following four months of improvement" as the general business conditions index decreased to 2.55 from 23.51 in November the Federal Reserve Bank of New York reported yesterday.

NEW YORK - Builders’ confidence in the market for new single-family homes slipped in December, as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment – fell to 16, from November’s 17, the group announced this afternoon.

NEW YORK - The Treasury Department today auctioned $27 billion of one-year bills at a 0.410% high yield, a price of 99.585444.